Tax Rates for Individuals 2016-2017 (Residents)
Taxable Income (AUD) | Taxation Amount |
0 – $18,200 | Nil |
$18,201 – $37,000 | 19c for each $1 over $18,200 |
$37,001 – $87,000 | $3,572 plus 32.5c for each $1 over $37,000 |
$87,001 – $180,000 | $19,822 plus 37c for each $1 over $80,000 |
$180,001 and over | $54,232 plus 45c for each $1 over $180,000 |
Note: The above tax brackets table does not include the Medicare Levy of 2%; Temporary Budget Repair Levy of 2%; or Low Income Tax Offset
Source: Australian Tax Office, https://www.ato.gov.au/Rates/Individual-income-tax-rates
Please note that your personal tax refund assessment varies on an individual basis and is calculated by the Australian Tax Office (ATO). Please contact us to prepare your tax return.